As always, DYOR!....MUMBAI (Dow Jones)--India's GVK Group,...

As always, DYOR!....

MUMBAI (Dow Jones)--India's GVK Group, Reliance Power Ltd. (532939.BY) and International Coal Ventures Pvt. Ltd. are interested in buying coal assets of Australia's Bandanna Energy Ltd. (BND.AU), the Economic Times reported Friday, citing persons aware of the matter it didn't identify.

Bandanna Energy has initiated an auction process to sell assets and has mandated UBS AG (UBS) to advise it on the transaction, the report added.

The report said the deal could be valued at about $1.5 billion.

International Coal Ventures is a consortium consisting of Steel Authority of India Ltd. (500113.BY), Coal India Ltd. (533278.BY), NTPC Ltd. (532555.BY), NMDC Ltd. (526371.BY) and Rashtriya Ispat Nigam Ltd.



Newspaper website: http://www.economictimes.com



-By Mumbai Bureau, Dow Jones Newswires; 91 22 6145 6100; [email protected]



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(END) Dow Jones Newswires

March 17, 2011 22:24 ET (02:24 GMT)

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